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RE: Is IBM Planning To Conquer The Blockchain With The Worlds Smallest Computer?
This is pretty fantastic, but quantum computing seems to be the bigger risk to current blockchain technology.
This is pretty fantastic, but quantum computing seems to be the bigger risk to current blockchain technology.
Hey digitaldruid, thanks for leaving a reply. Could you elaborate as to why you believe quantum computing would pose a bigger risk to current blockchain technology rather than current generation processors?
This article sums it up quite nicely. It's all having to do with the blockchain technology cryptos use today. All of them will have to change drastically when quantum computing becomes widely available.
https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/
Oh, THAT kind of risk. This level of computing wont be available for a while if at all for consumers. At least for now, If there is anyone out there cracking encryption with quantum computing technology today though, it should be easy enough to track down who the culprit is. Even if QC ever became truly widespread, something like hacking Blockchains would no doubt take a minimum of technical skill level and won't be something just anyone can do. I suspect we could have some people cloning coins similar to how today someone could use their iphone or other means to detail your magic stripe on your credit card. A smart man once told me that any "Money" needs to be backed by something else of value else it's worthless. Maybe the powers that be had it right all along with their bills and coins and bullion? I'd like to see a quantum computer decrypt one of those :)